// This cBot was created with AlgoBuilderX
//
// AlgoBuilderX is a powerful tool for creating automated trading strategies on the cTrader platform.
// With an intuitive drag-and-drop interface, you can easily build and customize your own trading
// algorithms without any coding knowledge. Whether you're a beginner or an experienced trader,
// AlgoBuilderX offers a seamless experience for developing, testing, and deploying your very own cBot
//
// Visit algobuilderx to start building your own cBots today!
This cBot is an example, made for demonstration purposes using AlgoBuilderX and works only on demo accounts.
Strategy: The strategy, detects the "Hammer" and "Shooting Star" candlestick pattern based on the values that are parameterizable. The strategy uses a fixed Take Profit and Stop Loss level.
Buy trigger: When a Hammer is formed and the RSI is oversold.
Sell trigger: When a Shooting Star forms and the RSI is overbought
Parameters:
*Signal Shadow Multiplication:
For a Hammer pattern, the lower shadow must be at least "x" times the size of the candle body (e.g., if the body is 3 pips, the lower shadow must be at least 9 pips).
For a Shooting Star, the upper shadow must be at least "x" times the size of the candle body.
*Max Slippage Shadow Pips:
For a Hammer, the upper shadow represents slippage, and for a Shooting Star, the lower shadow represents slippage.
NEW CANDLE PATTERN BLOCK! Automatically identify preset patterns or create your own custom pattern!
Create your cBot now in an easy and intuitive way!
Try AlgoBuilderX now, no registration required.
You can find the AlgobuilderX project for free in our Discord channel.
You will be able to import it into the AlgoBuilderX workspace, view it, edit it, or export it.
Important Note:
This cBot is a demonstration example created with AlgoBuilderX and is not optimized for live use. It is designed to illustrate the functionality of AlgoBuilderX and serve as a starting point for creating custom strategies. It is recommended that you carefully test and optimize any strategy before implementing it on a real trading account.
